For Each of the Following (1) Identify the Type of Account

question 10

Essay

For each of the following (1) identify the type of account as an asset, liability, equity, revenue, or expense, and (2) identify the normal balance of the account.
$\begin{array} { | l | l | l | } \hline \text { Account Title } & \text { Account Type } & \begin{array} { l } \text { Normal Balance } \\\text { (Debit or Credit) }\end{array} \\\hline \text { a. Prepaid Insurance } & & \\\hline \text { b. Accounts Payable } & & \\\hline \text { c. J. Jason, Capital } & & \\\hline \text { d. Utilities Expense } & & \\\hline \text { e. Land } & & \\\hline \text { f. Services Revenue } & & \\\hline \text { g. Notes Receivable } & & \\\hline \text { h. Advertising Expense } & & \\\hline\end{array}$
$$\begin{array} { | l | l | l | } \hline \text { i. Unearned Revenue } & \quad\quad&\quad\quad \\\hline \text { j. Service Revenue } & & \\\hline\end{array}$$

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Definitions:

Cash Operating Costs

Expenses related directly to the operation of a business, excluding non-cash expenses like depreciation.

Automating

The process of using technology or machinery to perform tasks with minimal human intervention.

Project Profitability Index

The Project Profitability Index is a financial metric used to evaluate the attractiveness of an investment or project, calculated as the present value of future cash flows divided by the initial investment.

Investment Proposals

Formal suggestions or plans put forward for consideration, relating to the allocation of resources to generate financial gains.